Rhumbline Advisers Boosts Stake in SkyWater Technology, Inc. $SKYT

Rhumbline Advisers increased its holdings in shares of SkyWater Technology, Inc. (NASDAQ:SKYT) by 8.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,397 shares of the company’s stock after acquiring an additional 2,783 shares during the period. Rhumbline Advisers’ holdings in SkyWater Technology were worth $265,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SKYT. GAMMA Investing LLC boosted its position in shares of SkyWater Technology by 941.3% during the 1st quarter. GAMMA Investing LLC now owns 4,613 shares of the company’s stock worth $33,000 after purchasing an additional 4,170 shares in the last quarter. CWM LLC lifted its stake in shares of SkyWater Technology by 320.2% in the first quarter. CWM LLC now owns 5,719 shares of the company’s stock valued at $41,000 after purchasing an additional 4,358 shares during the period. BNP Paribas Financial Markets purchased a new stake in SkyWater Technology during the fourth quarter worth about $50,000. Strs Ohio purchased a new stake in SkyWater Technology during the first quarter worth about $173,000. Finally, ProShare Advisors LLC acquired a new position in SkyWater Technology during the fourth quarter worth about $188,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

SkyWater Technology Stock Up 0.7%

Shares of SKYT opened at $15.40 on Friday. SkyWater Technology, Inc. has a fifty-two week low of $5.67 and a fifty-two week high of $19.00. The company’s fifty day moving average is $11.46 and its two-hundred day moving average is $9.40. The firm has a market cap of $741.97 million, a PE ratio of -45.29 and a beta of 3.41. The company has a quick ratio of 0.97, a current ratio of 1.06 and a debt-to-equity ratio of 0.68.

Insider Buying and Selling at SkyWater Technology

In other news, CFO Steve Manko sold 43,383 shares of the firm’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $15.13, for a total value of $656,384.79. Following the transaction, the chief financial officer owned 368,407 shares of the company’s stock, valued at approximately $5,573,997.91. This trade represents a 10.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Thomas Sonderman sold 8,355 shares of the company’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $10.58, for a total transaction of $88,395.90. Following the sale, the chief executive officer directly owned 532,174 shares of the company’s stock, valued at approximately $5,630,400.92. This trade represents a 1.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,221,247 shares of company stock valued at $38,461,969. Company insiders own 37.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of SkyWater Technology from a “sell” rating to a “hold” rating in a research report on Friday, September 5th. Needham & Company LLC lifted their price objective on SkyWater Technology from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $13.00.

SkyWater Technology Profile

SkyWater Technology, Inc, together with its subsidiaries, operates as a pure-play technology foundry that engages in the provision of semiconductor development, manufacturing, and packaging services in the United States. The company offers engineering and process development support services to co-create technologies with customers; and semiconductor manufacturing services for various silicon-based analog and mixed-signal, micro-electromechanical systems, and rad-hard integrated circuits.